The Appraisal Foundation (TAF) has just announced a call for applicants for its second Intangible Asset Work Group.  This work group will focus on best practices for valuing customer relationships.  The first working group project—which is well underway, led by Tony Aaron  (Ernst & Young), has focused on contributory assets and economic rents; it will release an exposure draft  in the near future, with the goal of reaching the largest group possible.  Similarly, the goal of this second working group is to reach the largest pool of experience volunteers, Carla Glass told attendees at the most recent ASA BV Conference in San Diego. Glass, who sits on the steering committee, explained that while the TAF is spearheading these efforts, the actual work will be done by “valuation professionals who actually do purchase price allocations…the real nitty gritty.”   Without these best practices, “there will be a huge variety in how people do things,” she warns, “and financial statements will end up looking very different.”  The deadline for completing your application to the second working group is February 15, 2008.  For more information, click here.  (Note:  Glass’ comments originally appeared in the Dec. 2007 Business Valuation Update™.)